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The Role of Accounting in Business and Why It’s Important

Accounting plays a vital role in running a business because it helps you track income and expenditures, ensure statutory compliance, and provide investors, management, and government with quantitative financial information which can be used in making business decisions. A few reasons why accounting is important to businesses: It Helps in Evaluating the Performance of Business […]

-By Jaankaari Admin
| June 28, 2022
| 1:06 pm

Abstract:

Accounting plays a vital role in running a business because it helps you track income and expenditures, ensure statutory compliance, and provide investors, management, and government with quantitative financial information which can be used in making business decisions.

A few reasons why accounting is important to businesses:

It Helps in Evaluating the Performance of Business
It Ensures Statutory Compliance
It Helps to Create Budget and Future Projections
It Helps in Filing Financial Statements

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